QRG Capital Management Inc. Has $677,000 Holdings in Ingersoll Rand Inc. $IR

QRG Capital Management Inc. raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,143 shares of the industrial products company’s stock after purchasing an additional 474 shares during the period. QRG Capital Management Inc.’s holdings in Ingersoll Rand were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Compass Wealth Management LLC raised its position in shares of Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 137 shares during the period. Golden State Wealth Management LLC raised its position in shares of Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 313 shares during the period. Farmers & Merchants Investments Inc. raised its position in shares of Ingersoll Rand by 54.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 172 shares during the period. Larson Financial Group LLC raised its position in shares of Ingersoll Rand by 136.4% in the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 285 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ingersoll Rand in the 1st quarter valued at approximately $40,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IR. Barclays cut their price target on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Citigroup reiterated a “buy” rating and issued a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the stock a “hold” rating in a research note on Monday, August 4th. Melius Research set a $93.00 target price on Ingersoll Rand in a research note on Monday, July 14th. Finally, Wells Fargo & Company increased their target price on Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Ingersoll Rand Price Performance

NYSE:IR opened at $78.45 on Friday. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $79.86 and a 200 day simple moving average of $80.36. The stock has a market capitalization of $31.18 billion, a PE ratio of 61.29, a P/E/G ratio of 4.78 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the business earned $0.83 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 6.25%.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.